The Sri Lanka Cricket (SLC) and IPG have announced that the 27th Investment, who were the owners of the Colombo Stars in the Lanka Premier League, has pulled out from the upcoming LPL 2021. The 27th Investment recently acquired the Colombo franchise earlier this month, but now they have decided to withdraw from the tournament.
A press release circulated regarding this matter stated that the investment firm reached this decision “after the parties were not able to come to a conclusive financial and logistical understanding.”
Speaking about the decision, 27th Investments CEO & President Anil Damani said: “We at 27th Investments strongly believe the business of cricket is evolving and is due for large growth, at 27th we are looking at several opportunities for investments at all times. Unfortunately, the opportunity with LPL did not sync with our current vision and plans. We wish SLC and IPG good luck for the tournament.”
While IPG CEO Anil Mohan added to it saying: “It’s indeed a loss for LPL that we lost a credible and iconic team owner like 27th Investments who have a history of ownership of strategic assets worldwide.”
The Lanka Premier League will be returning for its second season this year with five teams competing in the tournament, starting from December 5. While the opening fixture of the LPL will be played between the defending champions Jaffna Kings and Galle Gladiators.
The fans of the LPL in India can enjoy watching the tournament in Sony Ten 2, Sony Six and the OTT platform, Sony LIV, as the Sony Pictures Network has signed a media rights extension with IPG ahead of the second season of the tournament.